In This Article
About The Cambridge Building Society
The Cambridge Building Society is a member-owned financial institution based in Cambridge, England. The society offers savings accounts, mortgages, and other financial products and services to its members. It is one of the oldest building societies in the United Kingdom, having been founded in 1850.
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The Cambridge Building Society mortgages
The Cambridge Building Society strive to help people who need a mortgage through offering a variety of solutions. They aim to offer flexible and responsible lending looking at each case individually using a manual underwriting process with no credit scoring, only a credit check.
They have a Home Solutions range which supports those with a low credit score and can also consider where there are missed mortgage or loan payments.
The Cambridge Building Society have designed its products to have diverse and flexible criteria, but also be easy to understand and consistent. Their mortgage range includes:
- First time buyer mortgages
- Mortgages into retirement
- Buy to let mortgages
- Ex-pat mortgages
- Shared ownership mortgages
- Self-employed mortgages
How competitive are The Cambridge Building Society rates?
The Cambridge Building Society focuses on making continual improvements to the way they do things, including enhancements to their criteria, offering a competitive mortgage range and investing in improved technology to support the experience.
Their mortgage products are designed to be competitive to their target market. However, it is important to review your current and future situation to decide if the mortgage is competitive and suitable for you.
It is important to check the initial interest rate, revert rate, fees charged, flexibility of the product and so on. A mortgage advisor can do this for you by reviewing the whole market and recommend the most suitable deal for you.
Can I switch my deal with The Cambridge Building Society?
The Cambridge Building Society will contact you when your mortgage term is coming to an end if you are already a customer of theirs, to give you your switching options.
If your initial rate is coming to an end or your initial deal ended, and you have not heard from The Cambridge you should contact them or a mortgage advisor to review your options.
An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be staying with your current lender.
How long does it take to get an offer with The Cambridge Building Society?
You can normally expect to receive a mortgage offer from The Cambridge Building Society within 4 weeks. However, this can vary on a case-by-case basis.
A mortgage broker experienced in working with The Cambridge Building Society could get a mortgage offer quicker than going direct. The reason for this is that they often know what information is required upfront and how to present this correctly to the underwriting team.
Have you been declined a mortgage by The Cambridge Building Society?
If you have been declined a mortgage from The Cambridge Building Society, you should speak to a mortgage advisor as they could help you find another mortgage from another lender.
Expert mortgage advisors get to know which lender is best suited for different situations, situations such as bad credit, multiple or complex income streams, or any specific criteria about your situation or the property.
If you would like to check your credit profile you can go to either Experian, Equifax, Transunion or Check My File, which offers a free trial to investigate if the cause of your decline was adverse credit or a low credit score.
A mortgage advisor may be able to help you find a lender, regardless of your financial situation.
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Conclusion
The Cambridge Building Society is a long-established financial institution based in Cambridge, England, which offers savings accounts, mortgages, and other financial products and services to its members.
The building society offers a variety of mortgage products, including products for first-time buyers, buyers looking to retire, and self-employed buyers. The society also offers buy-to-let mortgages and shared ownership mortgages.
The Cambridge Building Society focuses on making continual improvements to the way they do things, including enhancements to their criteria, offering a competitive mortgage range and investing in improved technology to support the experience.
If you are interested in a mortgage from The Cambridge Building Society, they aim to give a mortgage offer within 4 weeks. However, this can vary depending on your individual case. A mortgage broker experienced in working with The Cambridge Building Society may be able to get you a mortgage offer quicker than if you go directly through the society.
If you have been declined a mortgage from The Cambridge Building Society, you should speak to a mortgage advisor as they could help you find another mortgage from another lender. Mortgage advisors are experienced in working with a variety of financial situations and may be able to help you find a mortgage even if you have bad credit or a low credit score.
Should you want to speak to an experienced mortgage advisor, please complete the contact form below, and I NEED ADVICE will find you with a mortgage advisor who can review the whole market and recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
